Duxon's Archive
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Hey, thanks for sharing this insight! Makes me want to write a trading book too, just so I can organize my thoughts better. I don't want to write a book for others though, so I guess mine will just be my trading plan becoming lengthier and better thought out.
That's what I've done up to this point. I might decide to hold off and and leave instructions for someone else to publish it for me after I kick the bucket (am resting in peace). It depends. I'm currently adapting NPP to trading binary options via Pocket Options (a demo account) and this has opened up a whole new dimension that I'll want to include in the final publication. If this new application turns out to be super profitable, I'll want to take a crack at monetizing it rather than making the book public. Otherwise, I'll make a final decision once I'm no longer breaking new ground.
In the past I have attributed logging my actions in trading journals, writing a book about my trading system, and learning to code my own proprietary indicators as key steps in coming to trade profitably.
Beyond this, I might now be finding that compiling evidence attesting to the robustness of one's approach to potential clients should also be added to this list. Toward that end, I reworked a methodology I tested and rejected within the last week or two to enhance the potential it seemed to promise at that time, and found the result to be quite impressive. So, I coded a corresponding alert to verify I wasn't imagining things, and when I dropped it on my charts, it confirmed for me that there was indeed objective support for what I thought I was seeing...
The nature of this strategy suggests to me that it might work if/when applied to Nadex at-the-money binary options, where one takes profit as soon as a contract reaches its maximum flight in a given direction rather than waiting for expiry, or to Nadex 24-hour (approximately) call spreads, taking profit once again at the end of each leg of the corresponding journeys.
The image above reminds me of the story of Joseph, how he went from spending two years in a pit as a prisoner to being placed in a position as second in command over Egypt in less than a day. If this tactic does work on the Nadex platform, 2022 ought to be a watershed year for me. It might also explain the main reason behind my spending four years in the United Arab Emirates, where I was introduced to trading Forex, and had plenty of disposable income to explore what the Forex market might have to offer.
I'm not sure that I would have become all that aware of this option had I lived in the USA during that period, or even if I had, if I would have had any interest, and would have simply stuck with trading stocks and indices. (There are many, many more choices when it comes to trading Forex overseas than there are here in the United States.)
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